Seylan Bank customers connected to LankaPay CAS

Monday, 3 February 2014 01:44 - - {{hitsCtrl.values.hits}}

All banks and financial service providers urged to join Sri Lanka’s largest common ATM switch

Seylan Bank customers can now transact for the lowest cost at over 1,200 ATMs island-wide, as the ‘Bank with a Heart’ became the first major private commercial bank to join the LankaPay Common ATM Switch. The move will bring greater convenience and affordability to over one million Seylan Bank customers as they avail of Sri Lanka’s single largest common ATM network. LankaPay allows customers of one bank to transact using an ATM of another member bank with convenience and at a nominal fee of Rs. 15 for a cash withdrawal. The LankaPay network is operated by LankaClear with the approval and guidance of the Central Bank of Sri Lanka, and is the first phase of the Common Card and Payment Switch (CCAPS). The system is designed to become the backbone infrastructure for all future electronic transactions, which will facilitate seamless connectivity coupled with online real time payments. Seylan Bank’s advent to LankaPay will greatly benefit its customers as it facilitates integrated, efficient, secure and cost-effective transactions. The bank’s customers no longer need to purposely visit Seylan ATMs for cash withdrawals and balance inquiries, with Bank of Ceylon, People’s Bank and Union Bank already connected to the network.

The full implementation of the CCAPS will allow Seylan Bank customers and other participating banks to effect bill payments and real-time fund transfers via LankaPay ATMs in the future. Seylan Bank Senior Deputy General Manager Tissa Nanayakkara, says that as a customer-centric organisation, his bank is constantly on the lookout for innovative technology and solutions that deliver greater value to consumers. “The full implementation of the CCAPS by LankaClear will transform the financial services industry and how consumers and even corporates transact across the board. Seylan Bank’s mission is to provide services that meet our customers’ needs in terms of value, pricing and quality of service, and this new addition is a giant step forward for the bank, consumers and the industry alike,” stated Nanayakkara. He added: “We look forward to welcoming other commercial banks on to this platform, whereby we could deliver greater convenience and financial empowerment to all segments of Sri Lankan society. I invite consumers from Seylan Bank and other member financial institutions to avail of our network of 160+ ATMs, and together with ‘The Bank with a Heart’ let us take Sri Lanka into the next generation of transactions.” The implementation of the LankaPay Common ATM Switch is a national development initiative which will greatly support the proposed consolidation of the banking and financial services industry, allowing greater reach, service offering and convenience to customers via a common platform. In addition to driving affordable convenience to users, it also offers significant savings in foreign exchange to the country by virtue of every LankaPay ATM transaction being channelled through a total domestic network. LankaClear General Manager and CEO Sunimal Weerasooriya, remarked: “The LankaPay CAS is a cornerstone in our national payment infrastructure development plan, empowering our public and enterprises to transact seamlessly unlike ever before. The convergence of all banks and financial institutions under LankaPay will pave the way for robust synergies that will position Sri Lanka amongst the most advanced financial services markets in the region. He went on to say: “We are happy with the steady progress of the banks coming on board the LankaPay CAS, now bringing the total network of ATMs over 1,200. With a couple of more banks currently going through the testing and certification process, we would be adding more ATMs to the network in the coming months. As we welcome Seylan Bank on to the LankaPay CAS network, I urge all financial institutions to join us on this progressive platform, to offer greater convenience and financial inclusion to all sectors of Sri Lankan society.” LankaClear Ltd., one of the country’s most successful public-private partnerships, is Sri Lanka’s national payment infrastructure provider. The company is jointly owned by the Central Bank of Sri Lanka and all commercial banks. LankaClear’s product offering include the Cheque Imaging And Truncation System (CITS), Sri Lanka Inter-Bank Payments System (SLIPS), LankaPay Common ATM Switch and LankaSign Certification Service Provider, among several other payment system infrastructure offerings.

Seylan Bank launches mobile ATM for greater reach and flexibility

Taking the diversity of its products and services to a greater Sri Lankan public, Seylan Bank recently launched its first-ever mobile ATM vehicle. The Chief Guest at the launch, which was held at Diyatha Uyana in Battaramulla, was Kapila Ariyaratne, General Manager/Chief Executive Officer of Seylan Bank, who also did the first transaction.

Connected in real time to Seylan Bank’s 160-strong branch network across the country, it will primarily function as fully-fledged ATM machine with a cash deposit facility. This mobile service also goes a step further and offers limited banking functions, thereby expanding the scope of its services to the public. Ranjith X. Fonseka, Deputy General Manager of Alternate Banking Channels of Seylan Bank, said: “We see this mobile ATM machine as a further extension of the service we offer thousands of our customers all over Sri Lanka. With its mobility comes an even greater convenience, and thus, a far more effective interaction with our growing customer base. This is the precursor to more such opportunities Seylan Bank has in store for the public of Sri Lanka.” Seylan Bank is also a part of Sri Lanka’s largest shared ATM network – Lanka Pay – which connects over 1,200 ATMs located island-wide. Priyantha Liyanage, Chairperson of LankaClear, which operates the Lanka Pay network, stated: “Gone are the days when one had to look for an ATM of one’s respective bank. With the Lanka Pay network, any member bank customer now has access to all ATMs of other member banks located island-wide at a mere Rs. 15 per withdrawal.” The Seylan Bank mobile ATM will be manned by a bank officer and banking assistant. It is geared to open savings accounts at the counter and also accept cash for new accounts opened. It will also promote credit and debit cards, fixed deposits and internet and SMS banking. “Given the convenience of it sheer mobility, we intend positioning this mobile ATM service at locations where the public gathers in large numbers. We have already identified a wide range of community opportunities such as sports events and musical shows, religious feasts and festivals, among others. Given the endless mobility this ATM offers, we’re fully confident of successfully taking our wide-ranging products and services to a larger public across Sri Lanka,” Fonseka added.